Home CryptoCurrency News Chainlink News Orion Protocol’s Newly Launched Orion Terminal Will Also Serve as Chainlink Data...

Orion Protocol’s Newly Launched Orion Terminal Will Also Serve as Chainlink Data Provider

Orion Protocol’s much-awaited Orion Terminal, a decentralized portal that will allow access to the entire crypto market on one platform, is now live on mainnet.

Orion Protocol announced the launch on Tuesday, December 15. Through Orion Terminal, the platform will offer the first non-custodial gateway to all the liquidity available in the crypto market.

Orion Terminal will make this possible by aggregating the liquidity of every centralized exchange, decentralized exchange, and swap pool in the market into one decentralized trading terminal.

According to the announcement, “access to the first phase of the terminal is prioritized based on share ranking through a referral scheme.” Traders will have to share a referral link which they will get by filling a form given in the announcement. Every new sign-up via their link will increase their share ranking.

chainlink-orion

Full-scale services of Orion Protocol will be available to everyone in Q1 of 2021. The announcement further reads:

“While phase one will be fully functional in terms of the ability to trade, deposit, withdraw, etc, more features, brokers, and trading pairs will be added continually over the following month, including ORN staking in early Q1. Additional features to be added to the terminal next year include lending, margin trading, leveraged ETFs, derivatives, contract trading, NFTs, and staking of any digital asset type.”

According to a separate announcement made on Tuesday, December 15, the data aggregated by Orion Terminal will also be fed to Chainlink’s price oracle networks, adding a new source of high-quality data from the entire cryptocurrency market for smart contracts consuming Chainlink Price Feeds.

The recent move is the second stage of the partnership between Orion Protocol and Chainlink. As Crypto Economy reported, Orion announced a new partnership with Chainlink in October to use Chainlink’s oracle to achieve full collateralization in its decentralized brokerage. The platform is currently using ORN/ETH price reference feeds from Chainlink. It was also mentioned in that announcement that Orion Protocol would provide data from its liquidity aggregator to Chainlink.

Kal Ali, Chief Operating Officer at Orion Protocol, in the announcement, wrote:

“As of today, Orion Protocol will begin providing the Chainlink Network with trading data, making Orion Protocol’s data available to other DeFi dApps via oracle nodes in the Chainlink Network. The decentralized structure and real-time price feed from all centralized exchanges, decentralized exchanges, and swap pools in the market will provide smart contract developers who use Chainlink with rich, high-quality data to enhance their DeFi smart contracts, ensuring broad cryptocurrency market coverage and further hardening Chainlink’s security and reliability guarantees.”


If you found this article interesting, here you can find more Chainlink News

Atiq Ur Rehman
Electronics Engineer with a passion to write about Disrupting Technologies like Blockchain. He joined Crypto-Economy in July 2019.
- Advertisment -
#NamePriceChanges 24H